Personal Lines Auto Insurance Carriers Shocked By Commercial Use Losses, Turn To DRN’s Picture Proof To Find Commercial Use At Underwriting And…
Personal Lines Auto Insurance Carriers Shocked By Commercial Use Losses, Turn To DRN's Picture Proof To Find Commercial Use At Underwriting And Renewals
By a
With the launch of Picture Proof HYPERLINK "http://go.drndata.com/find-commercial-use" nDRN guarantees to find at least 4% commercial use of at-risk vehicles for qualified carriers. In DRN tests for commercial use, one large national carrier had 28,565 personal line vehicles at-risk of commercial use. Of those vehicles, six percent or 1,714 showed signs of commercial use. If you assume an average of
"Carriers typically catch commercial use of a personal vehicle at claims. By waiting until claims, they have already lost money including dollars lost to premium leakage. Picture Proof gives carriers the images they need to spot the telltale signs of commercial use," said
Most carriers have these at-risk vehicles in their personal lines book: Econolines, Sprinter Vans, Astro Vans, Chevy Express Vans, and large pickups 350/3500 or higher. Picture Proof uses vehicle sightings that DRN gathers nationwide to provide pictures that carriers can use to spot commercial use of a personal vehicle. DRN has over five billion nationwide vehicle sightings and gathers more than 150 million more every month. Those sightings, include the signs that point to commercial use such as ladder racks, commercial business signage, lifts, and tools boxes. Carriers can easily upload their book of at risk policies and DRN will return images flagged for commercial use.
Carriers interested in the offer can sign up at: http://go.drndata.com/find-commercial-use.
Keywords for this news article include: DRN.
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